TPI Composites (NASDAQ:TPIC) PT Raised to $3.75

TPI Composites (NASDAQ:TPIC) had its price target hoisted by Roth Mkm from $3.30 to $3.75 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Separately, Piper Sandler reissued a neutral rating and set a $3.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $8.47.

TPI Composites Trading Up 0.7 %

Shares of NASDAQ:TPIC opened at $3.87 on Monday. The company has a market capitalization of $183.71 million, a PE ratio of -0.84 and a beta of 1.96. TPI Composites has a 12-month low of $1.63 and a 12-month high of $12.24. The business’s fifty day simple moving average is $2.93 and its 200-day simple moving average is $2.86.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million during the quarter, compared to analysts’ expectations of $340.91 million. During the same quarter last year, the firm earned ($0.73) EPS. Research analysts predict that TPI Composites will post -1.6 EPS for the current year.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPIC. Oaktree Capital Management LP grew its stake in TPI Composites by 556.5% during the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after purchasing an additional 3,899,903 shares during the last quarter. Carmignac Gestion boosted its position in TPI Composites by 10.2% in the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock valued at $2,913,000 after buying an additional 102,005 shares during the last quarter. Covalis Capital LLP acquired a new position in TPI Composites in the 3rd quarter worth approximately $2,163,000. Rock Point Advisors LLC raised its position in TPI Composites by 98.9% during the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after buying an additional 314,715 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in TPI Composites by 46.5% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 546,791 shares of the industrial products company’s stock valued at $1,449,000 after acquiring an additional 173,466 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.